The major enterprise content management software maker Open Text may be moving on up in Ottawa, recent reports say.
Open Text will lease the majority of floors in an iconic seven-story downtown office after residing in a Little Italy office, the Ottawa Business Journal has discovered.
The company”s new home at 10 Rideau Street was built by the son of a local lumber baron just under 100 years ago. Open Text will take the first five floors of the 45,500-square-foot building.
Open Text would not comment on the deal to the newspaper.
The downtown location was last occupied by the Ontario government for 25 years before it consolidated its operations to the Preston III Tower.
The manager of the building, Cindy Van Buskirk, says that the property owners were originally seeking a single tenant, but it was more practical to give Open Text most of the space.
"There were opportunities with single-floor tenants that came our way that we opted not to pursue," she says. Van Buskirk adds that it was "worth the wait" to land Open Text.
Open Text has recently been treated well by its fellow Canadians, according to TMCNet. The Ontario Government gave the ECM provider a grant of 225 million Canadian dollars over the next five years to create 400 jobs.